Brexit Arrives | God's World News

Brexit Arrives

06/27/2016
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    Brexit Arrives

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Last week Britain voted to leave the European Union to take greater control of its economy and its borders, shattering the stability of the continental unity forged after World War II.

The decision launches what will be years of negotiations over trade, business, and political links with the EU, which will shrink to a 27-nation bloc.

Results released early Friday show the "leave" side prevailed 52 percent to 48 percent in Thursday's vote. The vote had a turnout of 72 percent.

The U.K. is the first major country to decide to leave the EU.

Financial authorities around the world have warned that the British exit—a Brexit—will reverberate through a delicate global economy.

The uncharted, unexpected path of a European Union without Britain has already sparked sell-offs, with more jitters expected as global markets try to digest the result.

World financial markets were rocked by Britain's vote, with stock markets and oil prices crashing. The British pound hit its lowest level in three decades. Crude oil prices and U.S. futures also took a big hit.

President Obama had encouraged Britain to remain in the EU but said the decision was up to voters.